Siano Mobile Silicon secures $11.5m in Series A funding

The start-up develops mobile digital television (MDTV) receiver solutions.

Israeli start-up Siano Mobile Silicon, a fabless semiconductor start-up developing mobile digital television (MDTV) receiver solutions, has closed its Series A funding of $11.5 million, the company reported today.

The lead investor in the funding round was Jerusalem Venture Partners (JVP), together with Walden Israel and Star Ventures.

The company, which has about 30 employees, is developing a unique all-complementary metal oxide semiconductor (CMOS) multi-standard, multi-band integrated receiver, targeted for cellular phones, laptop computers, portable video players, and similar portable consumer devices.

Siano was founded in June 2004 by a group of Israeli entrepreneurs led by Alon Ironi, the former CEO of Emblaze Semiconductor, who serves as the company's CEO, together with Adam Fisher, a general partner at JVP and Siano's chairman of the board.

"Now that we've secured a fairly large first round, we can aggressively pursue our target, namely to soon come up with a superior solution for the exciting emerging market of MDTV," said Ironi.

"The new emerging market of TV on mobile requires breakthrough solutions that will overcome issues of mobility, power consumption, and physical size, while minimizing the overhead on the already-sensitive bill of material of hand held devices," said Dr. Ulrich Schumacher, a member of Siano's board of directors. Schumacher, a partner with Francisco Partners from the Silicon Valley, and former CEO of Infineon, added, "Siano has exactly the right technology and the right team to achieve that in a highly competitive way."

Published by Globes [online], Israel business news - www.globes.co.il - on Monday, April 04, 2005

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